Motion and control technologies company $PH said it has acquired Jager Automobil-Technik GmbH and Jager Automotive Polska Sp. z.o.o. from Arnold Jager Holding GmbH in Germany. Terms of the transaction were not disclosed. The acquired businesses combined have annual sales of about $45MM and they will become part of $PH's Pradifa Technology Division.
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The BoD of $VRSK approved an additional $500MM for its share repurchase authorization program.The company added that authorization has no expiration date and may be suspended or terminated at any time.
$TTC's BoD declared a quarterly cash dividend of $0.175 per share, a 16.7% increase from its prior quarterly rate of $0.15 per share. This dividend is payable on Jan. 12, 2017 to shareholders of record on Dec. 27, 2016.
$TTC sees FY17 revenue growth to be about 3-4% and EPS of about $2.20-2.26. For 1Q17, $TTC sees EPS to be about $0.34-0.36. With FY17 already underway, $TTC remains committed to delivering innovative products and serving customers across its businesses. Recent weather patterns appear promising, and $TTC is encouraged by resulting retail activity.
Landscaping, maintenance and irrigation equipment maker $TTC reported rise in 4Q16 earnings as favorable commodity costs and enhanced productivity as well as segment mix contributed to increases in gross margin. Net income rose to $30.23MM or $0.27 per share from $23.55MM or $0.21 per share last year. Net sales fell to $468.36MM from $480.81MM.